SUPPLEMENT TO THE
FIDELITY GROWTH
COMPANY FUND AND
FIDELITY EMERGING GROWTH
FUND
PROSPECTUS
DATED JANUARY 20, 1994
Growth Company's 3% sales
charge has been waived
through December 31, 1996.
SHAREHOLDER MEETING. On
December 14, 1994, the
shareholders of Fidelity Growth
Company Fund approved
changes to the fund's current
fundamental diversification
limitation, and approved other
matters related to the fund's
management.
The following information for
Growth Company Fund
replaces information found in
the sections entitled
"Diversification" and
"Fundamental Investment
Policies and Restrictions" on
page 30.
"The fund may not, with respect
to 75% of the fund's total
assets, purchase the securities
of any issuer (other than
securities issued or guaranteed
by the U.S. government or any
of its agencies or
instrumentalities) if, as a result,
(a) more than 5% of the fund's
total assets would be invested
in the securities of that issuer,
or (b) the fund would hold more
than 10% of the outstanding
voting securities of that issuer."
All of the proposals in the proxy
statement were approved by
shareholders. A copy of the
proxy statement may be
obtained free of charge by
calling Fidelity Distributors
Corporation at 1-800-544-8888.
The following information
supplements the "Minimum
Investments" table on page 12.
These minimums for Growth
Company may vary for a
Fidelity Payroll Deduction
Program account in the fund.
Refer to the program's
materials for details.
The following information
replaces information in the
section entitled "Transaction
Details" beginning on page 21.
FDC collects the proceeds from
each fund's 3% sales charge
and may pay a portion of them
to securities dealers who have
sold fund shares, or to others,
including banks and other
financial institutions (qualified
recipients), under special
arrangements in connection
with FDC's sales activities. The
sales charge paid to qualified
recipients is 2.25% of a fund's
offering price.
The following information
replaces information found in
the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
7. If you are a current or former
trustee or officer of a Fidelity
fund or a current or retired
officer, director, or regular
employee of FMR Corp. or its
direct or indirect subsidiaries (a
Fidelity Trustee or employee),
the spouse of a Fidelity trustee
or employee, a Fidelity trustee
or employee acting as
custodian for a minor child, or a
person acting as trustee of a
trust for the sole benefit of the
minor child of a Fidelity trustee
or employee.
SUPPLEMENT TO THE
FIDELITY GROWTH
COMPANY FUND AND
FIDELITY EMERGING GROWTH
FUND
PROSPECTUS
DATED JANUARY 20, 1994
Growth Company's 3% sales
charge has been waived
through December 31, 1996.
SHAREHOLDER MEETING. On
December 14, 1994, the
shareholders of Fidelity Growth
Company Fund approved
changes to the fund's current
fundamental diversification
limitation, and approved other
matters related to the fund's
management.
The following information for
Growth Company Fund
replaces information found in
the sections entitled
"Diversification" and
"Fundamental Investment
Policies and Restrictions" on
page 30.
"The fund may not, with respect
to 75% of the fund's total
assets, purchase the securities
of any issuer (other than
securities issued or guaranteed
by the U.S. government or any
of its agencies or
instrumentalities) if, as a result,
(a) more than 5% of the fund's
total assets would be invested
in the securities of that issuer,
or (b) the fund would hold more
than 10% of the outstanding
voting securities of that issuer."
All of the proposals in the proxy
statement were approved by
shareholders. A copy of the
proxy statement may be
obtained free of charge by
calling Fidelity Distributors
Corporation at 1-800-544-8888.
The following information
supplements the "Minimum
Investments" table on page 12.
These minimums for Growth
Company may vary for a
Fidelity Payroll Deduction
Program account in the fund.
Refer to the program's
materials for details.
The following information
replaces information in the
section entitled "Transaction
Details" beginning on page 21.
FDC collects the proceeds from
each fund's 3% sales charge
and may pay a portion of them
to securities dealers who have
sold fund shares, or to others,
including banks and other
financial institutions (qualified
recipients), under special
arrangements in connection
with FDC's sales activities. The
sales charge paid to qualified
recipients is 2.25% of a fund's
offering price.
The following information
replaces information found in
the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
7. If you are a current or former
trustee or officer of a Fidelity
fund or a current or retired
officer, director, or regular
employee of FMR Corp. or its
direct or indirect subsidiaries (a
Fidelity Trustee or employee),
the spouse of a Fidelity trustee
or employee, a Fidelity trustee
or employee acting as
custodian for a minor child, or a
person acting as trustee of a
trust for the sole benefit of the
minor child of a Fidelity trustee
or employee.
GCF/FEG-95-1 (PAGE 1 OF 2) January 1, 1995
GCF/FEG-95-1 (PAGE 1 OF 2) January 1, 1995
10. If you are a registered
investment adviser (RIA)
purchasing for your
discretionary accounts,
provided you execute a Fidelity
RIA load waiver agreement
which specifies certain
aggregate minimum and
operating provisions. Except for
correspondents of National
Financial Services Corporation,
this waiver is available only for
shares purchased directly from
Fidelity, and is unavailable if
the RIA is part of an
organization principally
engaged in the brokerage
business.
11. If you are a trust institution
or bank trust department
purchasing for your
non-discretionary,
non-retirement fiduciary
accounts, provided you execute
a Fidelity Trust load waiver
agreement which specifies
certain aggregate minimum and
operating provisions. This
waiver is available only for
shares purchased either
directly from Fidelity or through
a bank-affiliated broker, and is
unavailable, if the trust
department or institution is part
of an organization not
principally engaged in banking
or trust activities.
The following information
supplements information found
in the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
12. If you invest through a
non-prototype pension or
profit-sharing plan that
maintains all of its mutual fund
assets in Fidelity mutual funds,
provided the plan executes a
Fidelity non-prototype sales
charge waiver request form
confirming its qualification.
13. (Growth Company only) If
you invest as part of a payroll
deduction program through an
employer who is a member of
the Fidelity Retirement Client
Advisory Group of the Fidelity
Retail Advisory Group,
provided the employer enters
into a Fidelity payroll deduction
load waiver agreement which
specifies certain qualifying
restrictions and operating
provisions.
The following information
replaces information found in
the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
These waivers must be
qualified through FDC in
advance. More detailed
information about waivers (1),
(2), (5), (9), (10), and (13) is
contained in the Statement of
Additional Information. A
representative of your plan or
organization should call Fidelity
for more information.
10. If you are a registered
investment adviser (RIA)
purchasing for your
discretionary accounts,
provided you execute a Fidelity
RIA load waiver agreement
which specifies certain
aggregate minimum and
operating provisions. Except for
correspondents of National
Financial Services Corporation,
this waiver is available only for
shares purchased directly from
Fidelity, and is unavailable if
the RIA is part of an
organization principally
engaged in the brokerage
business.
11. If you are a trust institution
or bank trust department
purchasing for your
non-discretionary,
non-retirement fiduciary
accounts, provided you execute
a Fidelity Trust load waiver
agreement which specifies
certain aggregate minimum and
operating provisions. This
waiver is available only for
shares purchased either
directly from Fidelity or through
a bank-affiliated broker, and is
unavailable, if the trust
department or institution is part
of an organization not
principally engaged in banking
or trust activities.
The following information
supplements information found
in the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
12. If you invest through a
non-prototype pension or
profit-sharing plan that
maintains all of its mutual fund
assets in Fidelity mutual funds,
provided the plan executes a
Fidelity non-prototype sales
charge waiver request form
confirming its qualification.
13. (Growth Company only) If
you invest as part of a payroll
deduction program through an
employer who is a member of
the Fidelity Retirement Client
Advisory Group of the Fidelity
Retail Advisory Group,
provided the employer enters
into a Fidelity payroll deduction
load waiver agreement which
specifies certain qualifying
restrictions and operating
provisions.
The following information
replaces information found in
the section entitled "Sales
Charge Reductions and
Waivers" beginning on page 23.
These waivers must be
qualified through FDC in
advance. More detailed
information about waivers (1),
(2), (5), (9), (10), and (13) is
contained in the Statement of
Additional Information. A
representative of your plan or
organization should call Fidelity
for more information.
(PAGE 2 OF 2)
(PAGE 2 OF 2)
